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Filing Details

Accession Number:: 0001578563-24-000159
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-03-11 16:50:53
Reporting Period:: 2024-03-07

Accepted Time:: 2024-03-11 16:50:53
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1462120	Live Oak Bancshares Inc.	LOB	State Commercial Banks (6022)	264596286

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1635154	W. John Sutherland	1741 Tiburon Drive Wilmington NC 28403	Chief Accounting Officer	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Voting Common Stock	Disposition	2024-03-07	9,459	$40.58	47,644	No	4	S	Direct
Voting Common Stock	Disposition	2024-03-07	1,041	$41.37	46,603	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Voting Common Stock	Restricted Stock Units	$0.00		461	461	Direct
Voting Common Stock	Restricted Stock Units	$0.00		356	356	Direct
Voting Common Stock	Restricted Stock Units	$0.00		948	948	Direct
Voting Common Stock	Restricted Stock Units	$0.00		2,845	2,845	Direct
Voting Common Stock	Restricted Stock Units	$0.00		4,381	4,381	Direct
Voting Common Stock	Employee Stock Option (right to buy)	$17.00	2025-07-22	3,000	3,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	461	461	Direct
	356	356	Direct
	948	948	Direct
	2,845	2,845	Direct
	4,381	4,381	Direct
2025-07-22	3,000	3,000	Direct

Footnotes

This transaction was executed in multiple trades at prices ranging from $40.25 to $41.19. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
This transaction was executed in multiple trades at prices ranging from $41.255 to $41.69. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
460 of the RSUs vested on each of February 10, 2022 and February 12, 2024; and 461 of the RSUs will vest on February 10, 2023 and 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
The RSUs vest in five equal annual installments beginning on February 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
The RSUs vest in five pro rata annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
The RSUs vest in five pro rata annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
The shares subject to this option vest and become exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vested on each of July 22, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on July 22, 2021; and 25% of the shares subject to the option vested on July 22, 2022.